What is Binance USD?
Binance USD (BUSD) is a USD-denominated stablecoin. The BUSD coin was launched jointly by Binance and Paxos, and its market value is pegged to one US dollar.
About Binance USD
Binance USD is a 1:1 USD-backed stablecoin that was launched jointly by Binance and Paxos in 2019. Binance is a leading cryptocurrency exchange and Paxos, a blockchain infrastructure platform, is the issuer of the Binance USD stablecoin.
How BUSD Works
Like many other stablecoins, BUSD is 1:1 USD-denominated stablecoin, meaning that the fair market value of one BUSD is designed to follow the stability of one US dollar. BUSD is a digital-fiat currency that is issued as an ERC-20 token.
According to Paxos, “BUSD is 100% backed by reserves held in either or both (i) fiat cash in dedicated omnibus accounts at insured U.S. banks1 and/or (ii) U.S. Treasury bills (including through repurchase agreements and/or money-market funds invested in U.S. Treasury bills).”
BUSD can be purchased from numerous leading cryptocurrency exchanges.
Can I Donate BUSD to Charity?
Donating cryptocurrency is a highly tax-efficient form of giving that also supports mainstream crypto adoption. Even donating a small portion of your crypto can make a major difference in helping a cause that you’re passionate about.
While The Giving Block previously supported BUSD donations, it does not do so currently, though it may in the future.
Looking for more information about donating BUSD and other cryptocurrencies? Subscribe to The Giving Block’s email newsletter for weekly updates on Crypto Philanthropy.
